According to Bloomberg BNA based on a review of Form 10-Ks and Form 10-Qs from 2010 to June 30, 2017, 436 companies disclosed cybersecurity as a risk factor in the first six months of this year, compared to 403 companies in 2016 and 305 companies in 2015. This bar graph depicts the dramatic uptick in disclosure over the past several years:
The article cites this recent Allianz Risk Barometer survey report, which - based on input from more than 1,200 risk managers and corporate insurance experts worldwide - identifies cyber as a top business risk both in the US and worldwide, as well as the increased reliance on cloud-based technology as a potential contributor to cyber risk concerns.
This report first appeared earlier this week in the Society Alert. Access numerous additional resources on our Cybersecurity and Financial Reporting topical pages.